YEREVAN. – The 2008-2018 development concept of Armenia’s Information Technology (IT) sector needs to be reviewed, Enterprise Incubator Foundation Executive Director Bagrat Yengibaryan said during a press conference on Friday. 

In his words, it is impossible to make a ten-year forecast in the IT sector because the latter develops and changes in a dynamic fashion. Nonetheless, as per Yengibaryan, the interim objectives will probably be either fulfilled to a greater extent or are already fulfilled to a larger scope.  

In his turn, Armenian Union of Information Technology Enterprises Executive Director Karen Vardanyan likewise recorded that there is a significant progress in Armenia’s IT sector over the course of the past five years. But he added that the development concept projects toward establishing IT villages and venture funds in the country are being materialized more slowly than expected.